State of Owner Readiness | New Jersey

The Exit Planning Institute, along with various partners from the New Jersey area, have combined their resources in an effort to assess and understand the State of Owner Readiness™ to transition privately-held small and middle market businesses. There are 10,000 baby boomers turning 65 every day and this generation owns 63% of privately held businesses in the United States. However, recent studies show that 3 out of 4 business owners "profoundly regretted" their decision to sell within one year of exiting due to lack of readiness. The State of Owner Readiness Survey™ is a national survey used to poll the owner readiness in the middle market. Our team of partners has now created a local survey to poll the owners in the New Jersey area so the unique needs of the business landscape can be segmented and understood. We appreciate you taking the time to share your thoughts on your own state of readiness and look forward to sharing the results with you. Individual responses will be held strictly confidential. No personal information is requested in the survey. NOTE: This survey should be completed by the owner or owners of the business. Thank you for your time (This survey takes about 12 minutes)!

Section I | Background

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1.What is your current age?

< 37

37-52

53-71

71+

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2.Are you:

Male

Female

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3.What is your company’s annual revenue? (select one)

<$5M

$5M to $25M

$25M to $50M

$50M to $100M

>$100M

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4.How was your business started?

From scratch

Received from family

Purchased from family

Purchased from 3rd Party

Other

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5.What is the ownership structure?

Family Owned (100%)

Family Owned/Outside Ownership (family controlled)

Family Owned/Outside Ownership (outside ownership controlled)

Outside Ownership (100%)

Public company - We are not privately held

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6.If family owned, how long has your company been owned by the family?

1 Generation

2 Generations

3+ Generations

Don’t know

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7.What industry are you in? (select one)

Retail

Wholesale trade or distribution

Energy

Business/Professional Services

Technology/Communications

Utilities

Transportation

Manufacturing

Healthcare

Education

Real Estate

Insurance/Financial Services

Other

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8.How is your business organized? (select one)

Family Limited Partnership

Limited Liability Corporation

S-Corporation

C-Corporation

Other

Section II | Current Transition Plans/Thoughts

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9.When are you planning to transition the company (select one)?

1-2 years

3-5 years

6-10 years

No plans to transition

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10.Have you completed any formal education related to transitioning a business?

Yes

No

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11.Are you familiar with all your transition options?

Yes

No

Not sure

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12.How much do you agree with the following statement? Having a transition strategy is important for my future as well as the future of my business (select one)